Copyright brecorder
BENGALURU: Most emerging Asian stock markets rose on Monday, as signs of easing trade tensions between China and the US boosted risk appetite, while Indonesian shares fell sharply and were on track for their worst session in nearly seven months Leading the gains in the region, South Korea and Taiwan stocks notched fresh highs, rising about 2.5 percent each. Over the weekend, top Chinese and US officials laid the groundwork for a trade deal, lifting expectations ahead of a closely watched meeting between US President Donald Trump and Chinese President Xi Jinping on October 30 in South Korea. A trade deal between the world’s two largest economies would pause steeper American tariffs and Chinese rare earths export controls. “Encouraging signals from these discussions could pave the way for a favourable outcome at the upcoming meeting between Trump and Xi on October 30,” said Lloyd Chan, a senior currency analyst at MUFG. “In this context, positive momentum in Asian currencies and stock markets may well continue in the near term.” Also lifting market sentiment, a softer-than-expected US inflation report on Friday cemented expectations the Federal Reserve would cut interest rates by a quarter percentage point at its meeting on Wednesday. Among other markets, Thailand shares jumped 2.4 percent to their highest in almost nine months, after data showed customs-cleared exports rose 19.0 percent in September from a year earlier. Indonesian shares slumped 3.8 percent and were on track to log their worst session since April 8.
